On Wednesday, USDINR opened 12 pips firm @ 70.34/35.
In Early trade domestic pair getting support.
Yesterday USDINR trying to test 200 DMA but fail to achieve.
For the time being, EM FX keep clam , on Some positive clues from USA-CHINA trade talk.
FII regularly pulling out fund ahead on uncertainty on trade war as well as Indian general election outcome.
INTRADAY RANGE - 70.00 ( 70.31 - 70.56 ) 70.80
At the interbank foreign exchange market, the rupee opened strong at 70.43 against the US currency. During the day, the local unit moved in a range of 70.51 to 70.30.
The domestic currency finally ended at 70.44, up 7 paise against its previous close. The rupee had slid to a two-and-a-half-month-low of 70.51 Monday on heavy forex outflows.
Rupee has nearly depreciated by 1.4 per cent in the last one week on account of the escalating trade dispute between US and China and sustained outflow from the Indian capital market. There has been a net outflow of around USD 200 million dollars from the Indian capital market in the last one week.
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